Question: 23. Internal Rate of Return Analysis. Architect Services, Inc., would like to purchase a blueprint machine for $50,000. The machine is expected to have

23. Internal Rate of Return Analysis. Architect Services, Inc., would like to purchase a blueprint machine for $50,000. The machine is expected to have a life of 4 years, and a salvage value of $10,000. Annual maintenance costs will total $14,000. Annual savings are predicted to be $30,000. The company's required rate of return is 11 percent (this is the same data as the previous exercise). Required: 1. Use trial and error to approximate the internal rate of return for this investment proposal. Round to the nearest dollar. 2. Should the company purchase the blueprint machine? Explain.

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